IPO Central

Glenmark Life Sciences IPO description – Glenmark Life Sciences – a wholly-owned subsidiary of Glenmark Pharmaceuticals – is a developer and manufacturer of select high value, non-commoditized active pharmaceutical ingredients (APIs) in chronic therapeutic areas, including cardiovascular disease (CVS), central nervous system disease (CNS), pain management and diabetes. It also manufactures and sells APIs for gastro-intestinal disorders, anti-infectives and other therapeutic areas. Its API portfolio comprises specialized and profitable products, including niche and technically complex molecules. The company is also increasingly providing contract development and manufacturing operations (CDMO) services to multinational and specialty pharmaceutical companies.

Its parent and promoter, Glenmark Pharmaceuticals is a global pharmaceutical company with a long operating history having been established in 1977. In 2001-2002, Glenmark launched the API manufacturing business by setting up a manufacturing facility in Kurkumbh in the state of Maharashtra. In 2019, the API manufacturing business of Glenmark was sold and spun off into Glenmark Life Sciences.

The company’s products are sold in both regulated markets and emerging markets. For the nine months ended 31 December 2020, its revenue from regulated market products accounted for 60.1% of its total revenues from operations. The company works with 16 of the 20 largest generic companies globally. As of 31 December 2020, it had a portfolio of 120 molecules globally and sold its APIs in India and exported its APIs to multiple countries in Europe, North America, Latin America, Japan and the rest of the world (ROW). As of 7 April 2021, it had filed 399 Drug Master Files (DMFs) and Certificates of suitability to the monographs of the European Pharmacopoeia (CEPs) across various major markets (i.e. United States, Europe, Japan, Russia, Brazil, South Korea, Taiwan, Canada, China and Australia).

Promoters of Glenmark Life Sciences – Glenmark Pharmaceuticals Limited